Annual Report for 2009
Noble County Community Foundation Activities 2009The Noble County Community Foundation completed its fourth full year of operations in 2009, following its January 2005 founding. The Board of Directors remains unchanged with Judy McMullen, President, Shawn Ray, Vice President and board members Bill Brelsford, Kristi Close, Jeff Minosky, Andrea Hurst, Don Ullmann, Joy Flood, and Sharon Tanner as trustees and Mike Lloyd serving as secretary.
In a very challenging year for all organizations depending on the financial markets, the NCCF had its first year when assets fell. With a beginning balance of $13,566.31 in January of 2008, the unrestricted endowment of the NCCF fell to a balance of $12,686.34 on 12/31/09 for a loss of $879.97 or a 6.5% decline for the year. Considering the overall performance of many widespread financial indicators, the results should be seen as quite good.
Grants and Funds Received
Following a disappointing 2008, all NCCF funds grew in value in 2009. With a beginning balance of $12,686.24 in January of 2009, the unrestricted endowment of the NCCF grew to a balance of $17,394.32 on 12/31/09 for a gain of $4,707.98 or 37.1%. Good investment returns, donations, and some grants that have been awarded but not disbursed account, for the positive performance.
The NCCF received $2,350 in donations for 2009. The largest donation was $1000 from Peoples Bancorp Foundation. $500 was also received from both Community Savings and Farmers and Merchants Bank. Private donations were also received from Mr. and Mrs. Dale McMullen, Mr. and Mrs. James Watson, Mr. and Mrs. Phillip McKitrick and from the Illinois Farm Bureau.
The NCCF umbrella now includes two scholarship funds. The Mike Brienza Memorial fund is operated as a donor advised fund and awarded $1000 scholarships in 2009 to John J. Peer and Brittany Nau. In 2009, final touches were put on the Glenn Taylor Scholarship Fund. Applications for the first scholarships from this fund were accepted in early 2010. The assets of the former Edmund James Scholarship fund were merged with those of the Taylor fund which allowed the Taylor Scholarship fund to grow from $52,494.39 on 12/31/08 to $76,741.53 as of 12/31/09. As a result of the James Scholarship gift, repayment from individuals who had received Taylor funds (when the program was operated as a loan program), and investment income, the Taylor fund showed growth of $24,247.14 or 46.2%.
Together, the general endowment and the Taylor funds grew from $65,180.63 to $94,135.85 a growth of $28,955.22 or 44.4%
The Noble County Community Foundation (NCCF) awarded four grants in 2009.
A total of $1,000 was awarded from the foundation’s unrestricted endowment. The grants included $250 to the Noble County Historical Society for horse and wagon transportation at the Soakum Festival, $250 to Lutheran Social Services for building materials for the “Servant Event Program”, $250 to the Noble County Obesity Prevention Program for Caldwell Walking Trail enhancements, and $250 to the Noble County Tourism Association for their annual volunteer luncheon and to assist in operations of the county’s visitor center.